Observations on life

Today’s Students (hence adults) ARE NOT Prepared to Make Financial Decisions?

Very few high school students are required to or do take a financial literacy course. So where do they get their information to make good money decisions? They don’t, and too often they don’t make good decisions either. Or, they get information from their parents … oh goody, that works … he said sarcastically 🤑

Was there ever a time in US or even world history when financial literacy was more important? The complexity of financial matters, greater requirements for retirement planning, and a complex global economy all say we need strong financial education all throughout the education process from kindergarten to receiving a masters degree.

ACCESS TO FINANCIAL LITERACY After analyzing data from high schools representing over 85% of all students, the main conclusions of the study were as follows:

Only 16.4% of U.S. students are required to take a personal finance course to graduate high school. Five states do have a personal finance requirement: Alabama, Missouri, Tennessee, Utah and Virginia. But outside of these states, the proportion of students with a personal finance requirement drops to 8.6%. Meanwhile, only 5.5% of low income schools (outside of mandate states) have personal finance as a requirement.

Source: Chart: Are Today’s Students Prepared to Make Financial Decisions?

You can easily look up your own statistics regarding American’s finances like these , but the anecdotal evidence is clear, Americans can’t handle money🤑

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1 reply »

  1. If voters had any understanding of financial matters, then politicians could not get away with their budget games and spending habits nor could they buy votes. Also banks could not make money off of people unless they can finance their lifestyles they can’t afford. There is no incentive to teaching finances. Wall Street brokers for a fee and their own self interests will help plan your retirement.

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